Nikkei 225 Off 1.6% on Pandemic Outlook, Extending Losses to Third Day

The Nikkei 225 opened higher Tuesday on Wall Street cues but fell after mid-session, finishing off 1.6% following reports the Moderna MRNA CEO told the Financial Times that existing COVID-19 vaccines may be less effective against the emergent Omicron strain.

The Nikkei 225 fell for the third straight trading day, declining 462.16 to 27,821.76, as losing issues outnumbered gainers 184 to 39.

Leading the thin upside were the securities exchange itself, the Japan Exchange (JPXGY, 8679:Tokyo), up 5.4%, followed by camera-makers Nikon (NINOY, 7731), up 3.2%, and then Olympus (OCPNY, 7733), up 3.0%.

On the downside were Nissan Motors (NSANY, 7201), off 5.2%, and then Nippon Sheet Glass (NPSGY, 5202), off 4.7%.

In other news, Japan's industrial output rose 1.1% in October from September, breaking the three-month-long streak of contraction, the Ministry of Economy, Trade & Industry reported.

Also, Japan's jobless rate fell to 2.7% in October from 2.8% in September, as food-service and accommodation workers returned to work with the lifting of pandemic-related restrictions, the Ministry of Internal Affairs and Communications reported.